ACCC is an effective accident insurance scheme at an affordable price. What needs to happen is remove the social side of it (the bits that were added most recently like stress etc) and get back to accident.
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ACC Earners Levy Skyrockets
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Let's get this straight, ACC is not health insurance. It is accident insurance.
It is a grossly unfair system that needs to be wrapped up.
Period.
ACCC is an effective accident insurance scheme at an affordable price. What needs to happen is remove the social side of it (the bits that were added most recently like stress etc) and get back to accident.The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.
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Originally posted by PC View PostWhy is it being increased faster than the inflation rate?
(Because that "official" rate is a complete lie?)
about that. Mostly as part of 'endorsing' a CGT.
Generally, I'd agree that the government CPI is
hugely inaccurate, but not quite to the point of
calling it a complete lie. Maybe about 50-60%
would be the lie of things?
.
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I'm paying 3x the size of my basic private health insurance premium for ACC.
What options does a poor working boy have to reduce this onerous theft from his over taxed monthly stipend?Last edited by PC; 20-04-2010, 09:55 AM.The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.
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ACC Posts $2.1 Billion Surplus
James Weir
22/10/2014
Originally posted by StuffACC's net surplus of $2.1 billion is almost $300 million ahead of
budget, allowing significant levy cuts in 2015, the no-fault insurer
says. The annual report shows ACC received $4.7b in levies in the year
and spent $2.96b on claims. The levies charged were almost unchanged
from 2013, but higher than the $4.6b budgeted. Claims paid were up
from $2.6b last year, although only slightly ahead of budget.
The surplus last year was $4.9b, which led to calls from the Labour
opposition for immediate levy cuts at the state-owned insurer. ACC has
turned its finances around since posting a $4.8b loss in 2009. A
couple of months ago, the Government confirmed plans to cut motorists'
ACC levies next year by $135 on average, a total saving of about $480m
a year - $180m less than the $658m recommended by ACC as part of its
annual levy consultation process this year.
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So the principle of ACC changed from funding future liability of current claims out of furutre income to funding it from current income.
ie if you have an accident now that will cost $2000/yr for the next 10yrs then they should factor the $20000 cost into this years costs.
If they stopped collecting ACC premiums now they should be have enough money in the kitty to keep paying out their existing claims.
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